Uruguay: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Uruguay

In 2022, the Uruguayan steering wheels and columns market increased by 12% to $X, rising for the second year in a row after two years of decline. In general, consumption enjoyed a prominent expansion. Steering wheels and columns consumption peaked in 2022 and is likely to see gradual growth in years to come.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Uruguay

In 2022, steering wheels and columns exports from Uruguay reduced rapidly to X kg, waning by -89.4% on the previous year. Over the period under review, exports continue to indicate a sharp descent. The pace of growth was the most pronounced in 2019 with an increase of 638% against the previous year. Over the period under review, the exports hit record highs at X kg in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, steering wheels and columns exports dropped sharply to $X in 2022. In general, exports showed a precipitous contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 650% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X kg) was the main destination for steering wheels and columns exports from Uruguay, with a 90% share of total exports. Moreover, steering wheels and columns exports to Paraguay exceeded the volume sent to the second major destination, Bolivia (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Paraguay totaled +22.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (0.0% per year) and Brazil (-16.4% per year).

In value terms, Paraguay ($X) emerged as the key foreign market for steering wheels, steering columns and steering boxes exports from Uruguay, comprising 73% of total exports. The second position in the ranking was held by Bolivia ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Paraguay amounted to -10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (0.0% per year) and Brazil (-25.3% per year).

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, which is down by -7.8% against the previous year. Overall, the export price recorded a perceptible contraction. The growth pace was the most rapid in 2013 when the average export price increased by 42%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+53.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Uruguay

In 2022, approx. X tons of steering wheels, steering columns and steering boxes were imported into Uruguay; with an increase of 2% against the previous year. In general, imports showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 192% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, steering wheels and columns imports rose markedly to $X in 2022. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 190% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Turkey (X tons), Hungary (X tons) and Brazil (X tons) were the main suppliers of steering wheels and columns imports to Uruguay, together accounting for 71% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +84.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steering wheels and columns suppliers to Uruguay were Hungary ($X), Turkey ($X) and Brazil ($X), with a combined 67% share of total imports.

Hungary, with a CAGR of +69.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steering wheels and columns import price amounted to $X per ton, increasing by 11% against the previous year. Overall, the import price, however, showed a mild setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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